New Delhi. EPFO takes new steps every day to provide convenience to its subscribers. Recently, EPFO has issued a circular. According to this circular, EPFO is preparing a Standard Operating Procedure (SOP) to freeze and de-freeze UAN (Universal Account Number- UAN). Under this SOP, those EPFO accounts from which fake transactions or fraud are expected to happen will have to go through the process of verification.
This process involves several steps for verification of the account for MID, UAN and institutions. Through this verification, it will be ensured whether the amount present in the EPF account is secure or not.
According to the information given by EPFO , now a subscriber or foundation will get an additional 14 days from 30 days for account verification. This means that where earlier 30 days were given for verification, now it can be extended for a further 14 days.
What is EPFO Accounts Freeze
According to EPFO, freezing of EPF accounts means deactivating several categories. In simple language, it means deactivating some facility of EPF account. EPF accounts freeze includes the following categories.
- Login to the Unified Portal
- Developing a new UAN
- No changes can be made in Member Profile and Employer DSC
- Any deposit made in MID through Appendix E, VDR Special or VDR Transfer-In.
- Claim settlement, fund transfer or withdrawal
- Registration of a new foundation through PAN or GSTN
What is EPFO Accounts Defreeze
In EPFO de-freezing, the account is frozen during verification. There are many categories included in this too. Verification is required to defreeze the EPFO account.
- In Category-A, identification and contact for UAN or Foundation is done by the Head Office.
- Category-B includes any changes in profile or KYC.
- In Category-C, UAN can be submitted without authority approval through Appendix E, VDR Special, Special 10D, VDR Transfer-in etc.
